The True Story of Diamond Hands

i enjoyed the movie stupid money, just came to Netflix. The film tells the real-life story of Keith Gill, known on Reddit as “Roaring Kitty.” Keith Gill led millions of retail investors to short-sell GameStop in 2021, taking down the powerful Melvin Capital hedge fund.

The suspense of the movie comes from all the Average Joe investors, and Gill himself, watching their net worth soar as the price of $GME soars. Their friends and family are begging them to give them cash, and you can do so. feel How difficult it is for them to HODL.

Paul Dano’s portrayal of Gill is incredibly sweet and vulnerable. He is not a ‘brother’ but the head of a family who experiences the same internal conflicts as everyone else. Along with his long-suffering wife, played by Shailene Woodley.

This is a great investment story. Because it shows the power of investing. Trust your investmentEven when the world tells you you’re crazy.

(I’m not a fan of $GME. I feel the same way about meme stocks as meme coins.) But I appreciate the comedy that a sad, struggling GameStop is the stock that got everyone excited. was crazy.)

It got me thinking about other legendary investors who held stocks when others said they were crazy. Here are a few stories about some of the greatest “Diamond Hands” of all time.

John Doerr and E-Commerce Play

In 1995, a pioneering venture capitalist at Kleiner Perkins saw a young company with potential. It was a strange looking man who sold books online with his wife. Ignoring fierce internal resistance, Doerr led an $8 million funding round to support the man’s vision.

The company went through many ups and downs, but Doerr maintained his convictions even during the dot-com crash of 2000. The incident resulted in the fledgling company losing a significant portion of its value and growing public dissatisfaction with e-commerce. The company was forced to cut costs and reported zero profits for nearly a decade.

Doerr’s diamond hands eventually paid off. He helped fund Amazon.com.

Read: The Everything Store by Brad Stone

animators and movies

After his first animation studio failed, a young creator faced enormous financial difficulties. He signed a contract with the company to work night shifts without being paid for the work completed. He was disillusioned, deep in debt, and digging through bins for dinner.

Undeterred, he formed a new studio with his brother and, after producing a series of successful animated shorts, secured financing for his first feature-length animated film. There was tremendous opposition to the idea, but he went all in, even mortgaging his house and relying on his friends.

The film ‘Snow White and the Seven Dwarfs’ was a critical and commercial success, and the rest is Disney history.

Watch: Walt Before Mickey on Amazon Prime

old people and crisis

During the 2008 financial crisis, everyone panicked, but one old man stayed calm even during the hurricane. He declared this a ‘buying opportunity’ and increased investment in the target company.

He bought more Goldman Sachs even as investors fled financial stocks. He bought more shares of Wells Fargo and Bank of America even though their collapse seemed imminent. His beliefs were simple. These companies had not failed; they were now “for sale.”

This was one of the most gangster moves in investing history, which is why Warren Buffett is the OG.

Read: Snowball: Warren Buffett and the Business of Life – Alice Schroeder

Tech experts and turning points

After growing his hobby computer company into a successful technology company, the young founder was kicked out of the company in humiliating fashion by the board of directors. He started another computer company, but everyone thought he was done with it.

Meanwhile, the new CEO found himself running the original company and the board pleaded for him to return. The technology executive returned and promptly fired the board, installed a new one, and saved the company from a near-death experience.

Today, Apple is the most valuable company in the world, and Steve Jobs deserves a lot of the credit.

Read: Steve Jobs by Walter Isaacson

Programmer and Stash

In 2008, a programmer proposed a new kind of digital currency. He published a white paper explaining how it worked, discussed it and debated it in online forums, and then built it himself. Then he disappeared.

If you’re wondering whether to sell your digital investments, remember that Satoshi Nakamoto still owns the following wallets: $25-50 billion.

Cheer up, diamond hands.

Read: The Book of Satoshi by Phil Champagne

Health, wealth and happiness,

John Hargrave

publisher, Bitcoin Market Journal